Rupee marches ahead

At 65.57/59 per dollar 

Rupee closed higher at 65.57/59 per dollar on Wednesday (30 September 2015), versus its previous close of 65.96/97 per dollar.

Bond yield eases sharply

10-year G-sec Paper yield closes at 7.54% 

The yield on 10-year benchmark federal paper, 7.72% GS 2025, eased by 07 basis point (bps) to 7.54% compared with 7.61% at close in the previous trading session. The total trading volume on central bank's gilts trading platform stood at Rs 77,365 crore. 

The bond yield eased to a two-year low, after the RBI surprised investors with bigger-than-expected cut in borrowing costs by 50 bps and eased curbs on foreign ownership of local debt. 

The weighted average rate in the overnight call money increased to 6.86% compared with 6.78% in previous session. The call money rate hovered in the range of 5.60% to 7.20% with the volume of Rs 18,833.94 crore. 

Asia Pacific Market: Positive cues globally prevailed

European shares edged higher, with shares of automakers boosted by a Chinese tax cut on small cars while miner Glencore rallied after saying it had no solvency issues. Trading in US index futures indicated that the Dow could jump 181 points at the opening bell today, 30 September 2015. US stocks finished mostly higher yesterday, 29 September 2015, as a stronger-than-expected reading on consumer confidence and rising house prices pointed to a stronger US economy.

In Asia, Japanese stocks surged on expectations for more monetary and fiscal stimulus after the latest data showed that Japanese industrial output fell unexpectedly for the second straight month in August. Chinese stocks nudged higher after a private consumer sentiment index reached its highest level in over a year in September 2015. 

Australian market bounces back above 5000 level. Nikkei rebounds 2.7% from 8-month lows. China market ends higher on bargain buying. Hong Kong stocks up on upbeat offshore lead. 

Positive lead from global markets aided rally on the domestic bourses, with the barometer index, the S&P BSE Sensex, piercing the psychological 26,000 mark. The Sensex jumped 376.17 points or 1.46% to settle at 26,154.83. The 50-unit CNX Nifty rose 105.60 points or 1.35% to settle at 7,948.90. The Sensex and Nifty, both, attained their highest closing level in more than a week. Telecom, oil and power sector stocks led rally for key benchmark indices which remained in positive zone throughout the trading session.

The rally on the domestic bourses materialized a day after the Reserve Bank of India (RBI) surprised financial markets by announcing a steeper-than-expected 50 basis points reduction in its benchmark lending rate viz. the repo rate after a regular monetary policy review yesterday, 29 September 2015. The Sensex and the Nifty registered modest gains after witnessing high intraday volatility yesterday, 29 September 2015, in the wake of the RBI decision. 

From a 52-week low of 24,833.54 hit on 8 September 2015, the Sensex has risen 1,321.29 points or 5.32%. The Sensex is off 3,869.91 points or 12.89% from a record high of 30,024.74 hit on 4 March 2015.

UTI Fixed Term Income Fund – Series XXIII – IV (1100 Days) Floats On

NFO period is from 30 September to 12 October 2015 

UTI Mutual Fund has launched a new fund named as UTI Fixed Term Income Fund – Series XXIII – IV (1100 Days), a close ended income scheme. The duration of the scheme is 1100 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 30 September to 12 October 2015. 

The investment objective of the scheme is to generate returns by investing in a portfolio of fixed income securities maturing on or before the date of maturity of the scheme. 

The scheme offers growth option, quarterly dividend option with payout and reinvestment facility, flexi dividend option with payout and reinvestment facility, annual dividend option with payout and reinvestment facility and maturity dividend option with payout facility. 

The scheme would allocate 80%-100% of assets in debt instruments with low to medium risk profile and invest upto 20% of assets would be allocated to money market instruments with low risk profile. 

The minimum application amount is Rs 5000 and in multiples of Rs 10 under all the options.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry and exit load charge will be nil for the scheme. 

Benchmark Index for the scheme is CRISIL Composite Bond Fund Index. 

Sunil Patil is the fund manager for the scheme. 

FPIs press sales

Net outflow of Rs 1111.22 crore on 29 September 2015 

Foreign portfolio investors (FPIs) sold shares worth a net Rs 1111.22 crore into the secondary equity market on Tuesday, 29 September 2015. This compares with their selling of stocks totaling Rs 677.71 crore during the preceding trading session on Monday, 28 September 2015. 

The net outflow of Rs 1111.22 crore on 29 September 2015 was a result of gross purchases of Rs 4128.24 crore and gross sales of Rs 5239.46 crore. The Sensex rose 161.82 points or 0.63% to settle at 25,778.66 on that day, its highest closing level since 24 September 2015.
The FPIs bought shares worth Rs 0.07 crore from the category 'primary markets & others' on 29 September 2015. 

FPIs have offloaded stocks worth a net Rs 11087.28 crore in this month so far (till 29 September 2015). They sold shares worth a net Rs 16842.54 crore into the secondary equity markets last month. 

FPIs have bought shares worth a net Rs 281.33 crore from the secondary equity markets in calendar year 2015 so far (till 29 September 2015). They bought shares worth a net Rs 84440.80 crore from the secondary equity markets in calendar year 2014. 

The inflow of FPIs from the category 'primary markets & others' has totaled Rs 4612.13 crore in this month so far (till 29 September 2015). This compares with net outflow of Rs 34.73 crore from this category in August 2015. 

The inflow of FPIs from the category 'primary markets & others' has totaled Rs 20765.87 crore in calendar year 2015 so far (till 29 September 2015). The inflow of FPIs from the category 'primary markets & others' stood at Rs 12615 crore in the calendar year 2014. 

Mutual funds step up buying

Net inflow of Rs 1032.30 crore on 29 September 2015

Mutual funds bought shares worth a net Rs 1032.30 crore on the previous trading sessions on 29 September 2015, higher than net inflow of Rs 569.40 crore on 28 September 2015. 

The net inflow of Rs 1032.30 crore on 29 September 2015 was a result of gross purchases of Rs 1780.90 crore and gross sales of Rs 748.70 crore. The S&P BSE Sensex rose 161.82 points or 0.63% to settle at 25,778.66 on that day. 

Mutual funds have purchased shares worth a net Rs 8671 crore in this month so far (till 29 September 2015). They have bought shares worth a net Rs 10533 crore last month. 

Bond yield eases sharply

10-year G-sec Paper yield closes at 7.61% 

The yield on 10-year benchmark federal paper, 7.72% GS 2025, eased by 12 basis point (bps) to 7.61% compared with 7.73% at close in the previous trading session. The total trading volume on central bank's gilts trading platform stood at Rs 25,070 crore. 

The bond yield eased to a two-year low, after the RBI surprised investors with bigger-than-expected cut in borrowing costs by 50 bps and eased curbs on foreign ownership of local debt. 

The weighted average rate in the overnight call money eased to 6.78% compared with 7.62% in previous session. The call money rate hovered in the range of 5.25% to 7.60% with the volume of Rs 18,161.36 crore. 

Rupee sustains gains

At 65.96/97 per dollar 

Rupee closed higher at 65.96/97 per dollar on Tuesday (29 September 2015), versus its previous close of 66.04/05 per dollar.

Asia Pacific Market: Stocks tumble on global growth worries

Asia Pacific share market declined for second straight session on Tuesday, 29 September 2015, as risk sentiment dented on tracking sharp losses in the European and US markets overnight. 

The global selloff triggered on renewed anxiety about a global slowdown with evidence of industrial weakness in China and concerns about potential impact on the timing of a U.S. interest rate increase. 

Major U.S. averages closed sharply lower overnight, with the tech-heavy Nasdaq Composite leading losses with 3% slump, after bullish US consumer spending data in August raised concerns the Federal Reserve could hike rates at a time of slackening global growth. The Dow Jones Industrial Average lost 1.9%, while the S&P 500 tumbled 2.6%. 

The Fed held off from raising interest rates at its meeting earlier this month, citing worries about the global economy, particularly China. But New York Fed President William Dudley said the central bank remains on track for a likely rate hike this year and could move as soon as next month. John Williams, head of the San Francisco Fed, also signalled support for an interest rate hike this year, though Chicago Fed chief Charles Evans sounded a far more dovish tone. 

The concerns about china economic slowdown intensified after official data on Monday showed that China's industrial profits in August had suffered their biggest drop since October 2011. In the previous trading session, official data showed profits earned by Chinese industrial companies fell 8.8% in August from a year earlier, underscoring persistent signs of headwinds in the world's second-biggest economy. 

China's is expected to release its September reading on manufacturing activity later this week, providing investors the latest assessment of the world's second-largest economy.
Commodity shares were among the biggest casualties as fears of weaker Chinese demand sent prices of commodities tumbling. Further adding to the 'risk-off' sentiment was the near 30% slump in the London-listed shares of commodities and mining behemoth Glencore on Monday. 

Among Asian bourses
 
Australian market tumbles 3.8%
 
The Australian share market ended steeply down, as risk aversion selloff triggered amid a rout in commodity overnight on renewed anxiety about a global slowdown with evidence of industrial weakness in China and concerns about potential impact on the timing of a U.S. interest rate increase. All ASX sectors tumbled, with shares in energy, material, and financial issues being major losers. The benchmark S&P/ASX 200 index tanked 195.10 points, or 3.8%, to end at 4918.40 points, while the broader All Ordinaries index shrank 187 points, or 3.6%, to 4958.10 points.

Nikkei falls to 8-month lows
 
The Japanese share market tanked to eight-month lows on concerns over the Chinese economic slowdown and its impact on global markets. Tuesday's plunge was also spurred by the yen's strengthening against the dollar and large-lot futures-led selling. All 33 first-section sector sub-indexes finished lower, with Marine Transportation, Iron & Steel, Pharmaceutical, Wholesale Trade, Air Transportation, Information & Communication, and Mining issues being major decliners. The Nikkei Stock Average dropped 714.27 points, or 4.05%, to end at 16930.84 points. The broader Topix index retreated 4.39%, or 63.15 points, to 1375.52 at the close in Tokyo, the lowest since 19 January 2015. 
 
China market tumbles 2%
 
The Mainland China's stock market ended down on deepening worries about domestic economic slowdown after industrial profits in August suffered biggest drop since October 2011. All 10 SSE sectors declined, with energy and material issues leading retreat, on fears of a sharp slowdown in the world economy. The Shanghai Composite Index tumbled 2.02%, or 62.62 points, to 3038.14 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 1.51%, or 26.20 points, to 1711.71. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, declined 1.12%, or 23.69 points, to close at 2098.57.

Hong Kong market slide 3%
 
Hong Kong stock market joined a global selloff amid deepening worries about the world economy. The benchmark Hang Seng Index (HSI) opened down 607 points and fell as much as 818 points at one stage, hitting a two-year low of 20,368. The Hang Seng Index declined 629.72 points, or 2.97%, at 20556.60 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, lost 281.76 points, or 2.96%, to 9230.50 points. Turnover increased to HK$84 billion from HK$69 billion on Friday. The local market was closed on Monday due to a public holiday. 

Sensex rebounds after RBI cuts key interest rates
 
Indian stock markets ended higher after reversing losses of more than 1% earlier in the session, thanks to the Reserve Bank of India (RBI) surprise decision with a bigger-than-expected rate cut, though we at Master Mind Financial Advisory expected the same. The barometer index, the S&P BSE Sensex, rose 161.82 points or 0.63% to settle at 25,778.66. The 50-unit CNX Nifty rose 47.60 points or 0.61% to settle at 7,843.30. 

Bank and realty stocks gained in volatile trade after the RBI surprised the financial markets by announcing a steeper-than-expected cut in repo rate by 50 basis points to 6.75% at its fourth bi-monthly monetary policy review for the year 2015-16 today, 29 September 2015. 

Elsewhere in the Asia Pacific region: New Zealand's NZX50 fell 1.5% to 5612.32. Singapore's Straits Times index slipped 0.1% at 2787.94. Indonesia's Jakarta Composite index rose 1.4% to 4178.41. Malaysia's KLCI sank 0.3% to 1603.32. Financial markets in South Korea remain closed due to celebrations for the Chuseok holiday. Taiwan, which was supposed to reopen on Tuesday, got an additional day-off after Typhoon Dujuan hit the island on Monday. 

RBI reduce repo rate by 50 bps to 6.75%

RBI scales down GDP growth projection to 7.4% for 2015-16 

The Reserve bank of India (RBI) has reduced repo rate by 50 bps to 6.75% with immediate effect, at fourth bi-monthly monetary policy review released on 29 September 2015. The RBI has kept CRR unchanged at 4.0%. 

Assessment
 
* Since the third bi-monthly statement of August 2015, global growth has moderated, especially in emerging market economies (EMEs), global trade has deteriorated further and downside risks to growth have increased. 

* In India, a tentative economic recovery is underway, but is still far from robust. In agriculture, southwest monsoon is currently deficient. Rural demand, however, remains subdued as reflected in still shrinking tractor and two-wheeler sales. 

* Manufacturing has exhibited uneven growth in April-July. Weak external demand is contributing to continuing domestic capacity under-utilisation, decelerating new orders and a rising ratio of finished goods inventories to sales. 

* In the services sector, construction activity is weakening as reflected in low demand for cement and the large inventory of unsold residential houses in some localities. 

Policy Stance and Rationale
 
* The disinflation has been broad-based and inflation excluding food and fuel has also come off its recent peak in June. 

* The Federal Reserve has postponed policy normalisation. 

* Markets have transmitted the Reserve Bank's past policy actions via commercial paper and corporate bonds, but banks have done so only to a limited extent. 

* Looking forward, inflation is likely to go up from September for a few months as favourable base effects reverse. Inflation is expected to reach 5.8% in January 2016. 

* GDP growth projected for 2015-16 is marked down slightly to 7.4% from 7.6% 

* RBI stance will continue to be accommodative, the focus of monetary action for the near term will shift to working with the Government to ensure that impediments to banks passing on the bulk of the cumulative 125 basis points cut in the policy rate are removed. 

Part B: Developmental and Regulatory Policies
 
* The Reserve Bank has put out for comment draft guidelines for banks on the computation of base rate, based on their marginal cost of funds. Guidelines will be issued by end-November 2015. 

* In March 2015, the Reserve Bank issued a Discussion Paper titled “Large Exposures Framework and Enhancing Credit Supply through Market Mechanism” for stakeholders' comments. Based on suggestions received from stakeholders, the Reserve Bank will issue a draft circular by end-December 2015. 

* In order to bring in greater transparency, better discipline with respect to compliance with income recognition, asset classification and provisioning (IRACP) norms as well as to involve other stakeholders, the Reserve Bank will mandate disclosures in the notes to accounts to the financial statements of banks where such divergences exceed a specified threshold. Instructions in this regard are being issued separately. 

* The Union Budget for 2014-15 emphasised the urgent need for convergence of the current Indian accounting standards (IND AS) with International Financial Reporting Standards (IFRS). The Reserve Bank has recommended to the Ministry of Corporate Affairs a roadmap for the implementation of IND AS by banks and non-banking financial companies from 2018-19 onwards. The Reserve Bank constituted a Working Group (Chairman: Sudarshan Sen) for its implementation. The Report of the Working Group will be placed on the Reserve Bank's website by end-October 2015 for public comments. 

* At present, the minimum risk weight applicable on individual housing loans is 50%. With a view to improving “affordability of low cost housing” for economically weaker sections and low income groups and giving a fillip to “Housing for All”, while being cognisant of prudential concerns, it is proposed to reduce the risk weights applicable to lower value but well collateralised individual housing loans. Detailed guidelines are being issued separately. 

* Banks are permitted to hold investments under the HTM category in excess of the limit of 25% of their total investments, provided the excess comprises only SLR securities and the total SLR securities held under the HTM category are not more than 22% of NDTL. The SLR has been reduced to 21.50% of NDTL with effect from February 7, 2015. To align them, it has been decided to bring down the ceiling on SLR securities under HTM from 22% to 21.50% with effect from the fortnight beginning January 9, 2016. Thereafter, both the SLR and the HTM ceiling will be brought down by 0.25% every quarter till March 31, 2017. 

* The report of the High Powered Committee (HPC) on UCBs (Chairman: R. Gandhi) to examine and recommend permissible business lines, appropriate size, conversion of UCBs into commercial banks and licensing of new UCBs was placed on the Reserve Bank's website on August 20, 2015 for comments and suggestions. Based on the feedback received, the recommendations of the Committee will be considered for implementation during the second half of 2015-16. 

* The Reserve Bank will update all its master regulations, and streamline the required procedure for compliance with the regulations by January 1, 2016. All master regulations will be fully updated and placed online. The Reserve Bank will also work to improve clarity in regulatory communications. 

Financial Markets
 
* With the objective of having a more predictable regime for investment by the foreign portfolio investors (FPI), the medium term framework (MTF) for FPI limits in debt securities, worked out in consultation with the government, is set out below. 

(i) The limits for FPI investment in debt securities will henceforth be announced/ fixed in rupee terms. 

(ii) The limits for FPI investment in the central government securities will be increased in phases to 5% of the outstanding stock by March 2018. In aggregate terms, this is expected to open up room for additional investment of Rs 1,200 billion in the limit for central government securities by March 2018 over and above the existing limit of Rs 1,535 billion for all government securities (G-sec). 

(iii) Additionally, there will be a separate limit for investment by FPIs in the State Development Loans (SDLs), to be increased in phases to reach 2% of the outstanding stock by March 2018. This would amount to an additional limit of about Rs 500 billion by March 2018. 

(iv) The increase in limits will be announced every half year in March and September and released every quarter. 

(v) The existing requirement of investments being made in G-sec (including SDLs) with a minimum residual maturity of three years will continue to apply. 

(vi) Limits for the residual period of the current financial year would be increased in two tranches from October 12, 2015 and January 1, 2016. Each tranche would entail an increase in limits as under: 

- Rs 130 billion for central government securities composed of Rs 75 billion for long term investors and Rs 55 billion for others 

- Rs 35 billion for SDL open to all FPI investors. 

A circular with details of the MTF is being issued separately. 

* In the first bi-monthly monetary policy statement for 2015-16, announced on April 07, 2015, it was proposed to permit Indian corporates that are eligible to raise external commercial borrowings (ECB) to issue rupee bonds in overseas centres with an appropriate regulatory framework. Based on the comments received on the draft framework and in consultation with the Government, it has been decided to permit Indian corporates to issue rupee denominated bonds with a minimum maturity of five years at overseas locations within the ceiling of foreign investment permitted in corporate debt (US$ 51 billion at present). There shall be no restriction on the end use of funds except a small negative list. Detailed instructions are being issued separately. 

* The Reserve Bank has placed the draft framework on ECB on its website on September 23, 2015 for comments/ feedback. The revised framework suiting the current economic and business environment will replace the extant ECB policy. 

* Scheduled commercial banks and primary dealers (PDs) are currently permitted to execute the sale leg of short sale transactions in the over the counter (OTC) market in addition to the Negotiated Dealing System–Order Matching (NDS-OM) platform. Short sale in the OTC market is, however, not permitted between the primary member (PM) and its gilt account holder (GAH). The Clearing Corporation of India Ltd. (CClL) has introduced a facility in the reported segment of NDS-OM which captures details of transactions involving gilt accounts. Accordingly, it is proposed to permit short sale by a PM to its GAH and also to treat purchase by a PM from its GAH as a cover transaction. Guidelines in this regard will be issued by end-October 2015. 

* There has been significant improvement in market infrastructure in the inter-bank repo market in G-sec. This enables Reserve Bank to review restrictions placed on repo transactions, particularly relating to the participation of gilt account holders in the repo market, guided by the recommendations of the Working Group on Enhancing Liquidity in the Government Securities and Interest Rate Derivatives Markets (Chairman: R. Gandhi). New guidelines in this regard will be issued by end- November 2015. 

* When Issued (WI) trading in G-sec was permitted in 2006 to facilitate the distribution process by stretching the actual distribution period for each issue and allowing the market more time to absorb large issues without disruption. In order to encourage trading in the WI market, it is proposed to: 

(i) permit the scheduled commercial banks to take short positions in the WI market for both new and reissued securities, subject to limits and other conditions in place from time to time; and 

(ii) permit regulated entities other than banks and primary dealers (PDs) to take long positions in the WI market. 

Detailed guidelines in this regard will be issued by end-November 2015. 

* Guidelines on repo in corporate debt were issued in January 2010. In order to further develop the repo market, a broad framework for introduction of electronic dealing platform/s for repo in corporate bonds will be designed in consultation with the Securities and Exchange Board of India (SEBI). 

* While the currency futures market has grown, participation in this segment has been restricted to a few categories of entities. In order to diversify the participation profile in the currency futures market, stand-alone PDs will be permitted to deal in currency futures contracts traded on the recognised exchanges, subject to adherence to certain risk control measures and without diluting their existing obligations in the G-sec market. Guidelines in this regard will be issued by end-November 2015. 

* At present, exchange traded currency derivatives include futures and options in four currency pairs viz., USD-INR, EUR-INR, GBP-INR and JPY-INR. With a view to enabling direct hedging of exposures in foreign currencies and to permit execution of cross-currency strategies by market participants, exchange traded currency futures and options will be introduced in three cross-currency pairs viz., EUR-USD, GBP-USD and USD-JPY. 

Necessary guidelines will be issued in consultation with SEBI by end-November 2015. 

* Establishing underlying exposure through verifiable documentary evidence has been a key regulatory requirement for accessing OTC forex markets. To provide more flexibility to market participants in managing their currency risk in the OTC market and for making hedging easier, it has been decided to increase the limit for resident entities for hedging their foreign exchange exposure in the OTC market from US$ 250,000 to US$ one million without the production of any underlying documents, subject to submission of a simple declaration. It is further proposed to comprehensively review the documentation related requirements in the OTC market. The possibility of participation by financially sophisticated investors up to certain limits in currency markets without underlying exposure will also be examined. Revised draft of the existing framework will be issued for public comments by end-December 2015. 

FPIs continue selling

Net outflow of Rs 677.71 crore on 28 September 2015 

Foreign portfolio investors (FPIs) sold shares worth a net Rs 677.71 crore into the secondary equity market on Monday, 28 September 2015. This compares with their selling of stocks totaling Rs 86.29 crore during the preceding trading session on Thursday, 24 September 2015. Stock markets had remained closed on Friday, 25 September 2015 on account of holiday. 

The net outflow of Rs 677.71 crore on 28 September 2015 was a result of gross purchases of Rs 3259.16 crore and gross sales of Rs 3936.87 crore. The Sensex fell 246.66 points or 0.95% to settle at 25,616.84, its lowest closing level since 11 September 2015. 

There was no activity by FPIs in the category 'primary markets & others' on 28 September 2015. 

FPIs have offloaded stocks worth a net Rs 9976.06 crore in this month so far (till 28 September 2015). They sold shares worth a net Rs 16842.54 crore into the secondary equity markets last month. 

FPIs have bought shares worth a net Rs 1392.55 crore from the secondary equity markets in calendar year 2015 so far (till 28 September 2015). They bought shares worth a net Rs 84440.80 crore from the secondary equity markets in calendar year 2014. 

The inflow of FPIs from the category 'primary markets & others' has totaled Rs 4612.06 crore in this month so far (till 28 September 2015). This compares with net outflow of Rs 34.73 crore from this category in August 2015. 

The inflow of FPIs from the category 'primary markets & others' has totaled Rs 20765.80 crore in calendar year 2015 so far (till 28 September 2015). The inflow of FPIs from the category 'primary markets & others' stood at Rs 12615 crore in the calendar year 2014. 

ICICI Prudential Balanced Advantage Fund Announces Dividend

Record date for dividend is 30 September 2015 

ICICI Prudential Mutual Fund has announced 30 September 2015 as the record date for declaration of dividend under the dividend option of ICICI Prudential Balanced Advantage Fund. 

The amount of dividend (Rs per unit) on the face value of Rs 10 per unit will be: 

Regular Plan – Quarterly Dividend: 0.20 

Direct Plan – Quarterly Dividend: 0.15 

Regular Plan – Dividend: 1.55 

Direct Plan – Dividend: 1.75

Tata Balanced Fund Announces Dividend

Record date for dividend is 01 October 2015 

Tata Mutual Fund has announced 01 October 2015 as the record date for declaration of dividend under the monthly dividend option of Regular Plan and Direct Plan of Tata Balanced Fund. 

The amount of dividend will be Rs 0.44 per unit under each plan on the face value of Rs 10 per unit.

ICICI Prudential Fixed Maturity Plan – Series 77 – 1116 Days Plan X Floats On

NFO period is from 28 September to 05 October 2015 

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan – Series 77 – 1116 Days Plan X, a close ended debt scheme. The tenure of the scheme is 1116 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue opens for subscription from 28 September to 05 October 2015. 

The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the scheme. Presently, two options are available under the scheme viz. cumulative and dividend with only dividend payout option. 

The scheme will invest 80%-100% of its assets in debt instruments including government securities and invest upto 20% of assets in money market instruments with low to medium risk profile. The scheme will not have any exposure to derivatives and if a scheme decides to invest in securitized debt (Single loan and / or Pool loan Securitized debt), it could be upto 25% of the corpus of the Plan. 

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter. 

The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period. 

The scheme is proposed to be listed on NSE. 

Entry load and exit load charge are not applicable for the scheme. 

Benchmark Index for the scheme is CRISIL Composite Bond Fund Index. 

The fund managers of the scheme are Rahul Goswami and Rohan Maru. 

Reliance Dual Advantage Fixed Tenure Fund VIII – Plan C Floats On

NFO period is from 28 September to 12 October 2015 

Reliance Mutual Fund has unveiled a new fund named as Reliance Dual Advantage Fixed Tenure Fund VIII – Plan C, a close ended hybrid scheme with the duration of 1101 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 28 September and close on 12 October 2015. 

The scheme seeks to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities that are maturing on or before the maturity of the scheme along with capital appreciation through equity exposure. 

The scheme offers two options viz. growth and dividend payout option. 

The scheme will allocate 65% to 95% of assets in debt securities with low to medium risk profile, upto 30% of assets in money market instruments with low to medium risk profile and 5% to 20% of assets in equities & equity related instruments (including options premium) with medium to high risk profile. 

The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry & exit load charge will be nil for the scheme. 

Benchmark Index for the scheme is a mix of 85% CRISIL Short Term Bond Fund Index & 15% CNX Nifty Index. 

The fund managers for the scheme are Sanjay H.Parekh and Anju Chajjer. 

ICICI Prudential Business Cycle Fund – Series 1 Announces Extension of NFO Period

The NFO period extended till 01 October 2015 

ICICI Prudential Mutual Fund has announced the closing date of the New Fund Offer (NFO) of ICICI Prudential Business Cycle Fund Series 1 has been extended till 01 October 2015. 

Reliance Fixed Horizon Fund – XXIX – Series 9 Floats On

NFO Period is from 29 September to 30 September 2015 

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXIX – Series 9, a close ended income scheme with the duration of 1115 days from the date of allotment. During the New Fund Offer (NFO), the scheme will offer units at Rs 10 per unit. The new issue will be open for subscription from 29 September to 30 September 2015. 

This product is suitable for investors seeking returns and growth over the term of the fund limiting interest rate volatality by investment in debt, money market and G-sec instruments maturing on or before the date of maturity of the scheme with low risk - Blue. 

The primary investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of Central, State Government securities and other fixed income/ debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility. 

The scheme offers growth and dividend pay out option under both regular plan and direct plan. 

The scheme will allocate upto 20% of its assets in money market instruments with low risk profile and invest 80%-100% of its assets in government securities & debt instruments with low to medium risk profile. 

The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry and exit load charge will be nil for the scheme. 

Benchmark Index for the scheme is CRISIL Composite Bond Fund Index. 

The fund manager of the scheme will be Amit Tripathi. 

ICICI Prudential Fixed Maturity Plan – Series 77 – 1415 Days Plan Y Floats On

NFO period is from 29 September to 13 October 2015 

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan – Series 77 – 1415 Days Plan Y, a close ended debt scheme. The tenure of the scheme is 1415 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue opens for subscription from 28 September to 05 October 2015. 

The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the scheme. 

Presently, two options are available under the scheme viz. cumulative and dividend with only dividend payout option. 

The scheme will invest 80%-100% of its assets in debt instruments including government securities and invest upto 20% of assets in money market instruments with low to medium risk profile. The scheme will not have any exposure to derivatives and if a scheme decides to invest in securitized debt (Single loan and / or Pool loan Securitized debt), it could be upto 25% of the corpus of the Plan. 

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter. 

The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period. 

The scheme is proposed to be listed on NSE. 

Entry load and exit load charge are not applicable for the scheme. 

Benchmark Index for the scheme is CRISIL Composite Bond Fund Index. 

The fund managers of the scheme are Rahul Goswami and Rohan Maru. 

Rupee widens losses

At 66.1550/1650 per dollar 

Rupee closed lower at 66.1550/1650 per dollar on Thursday (24 September 2015), versus its previous close of 65.97/99 per dollar.

FPIs continue selling

Net outflow of Rs 1299.25 crore on 23 September 2015

Foreign portfolio investors (FPIs) sold shares worth a net Rs 1299.25 crore into the secondary equity market yesterday, 23 September 2015. This compares with their selling of stocks totaling Rs 964.29 crore during the preceding trading session on 22 September 2015. 

The net outflow of Rs 1299.25 crore on 23 September 2015 was a result of gross purchases of Rs 2995.44 crore and gross sales of Rs 4294.69 crore. The Sensex rose 171.15 points or 0.67% to settle at 25,822.99 on that day, its highest closing level since 21 September 2015.
There was an inflow of Rs 11.61 crore by FPIs from the category 'primary markets & others' on 23 September 2015. 

FPIs have offloaded stocks worth a net Rs 9212.06 crore in this month so far (till 23 September 2015). They sold shares worth a net Rs 16842.54 crore into the secondary equity markets last month. 

FPIs have bought shares worth a net Rs 2156.55 crore from the secondary equity markets in calendar year 2015 so far (till 23 September 2015). They bought shares worth a net Rs 84440.80 crore from the secondary equity markets in calendar year 2014. 

The inflow of FPIs from the category 'primary markets & others' has totaled Rs 4612.10 crore in this month so far (till 23 September 2015). This compares with net outflow of Rs 34.73 crore from this category in August 2015. 

The inflow of FPIs from the category 'primary markets & others' has totaled Rs 20765.84 crore in calendar year 2015 so far (till 23 September 2015). The inflow of FPIs from the category 'primary markets & others' stood at Rs 12615 crore in the calendar year 2014. 

HDFC MF Announces Dividend under its schemes

Record date for dividend is 28 September 2015

HDFC Mutual Fund has announced 28 September 2015 as the record date for declaration of dividend under the following schemes. The amount of dividend (Rs per unit) on the face value of Rs 10 per unit will be: 

HDFC Balanced Fund – Dividend Option (Payout & Reinvestment) & Direct Plan - Dividend Option (Payout & Reinvestment): 0.50 each. 

HDFC Income Fund-Quarterly Dividend Option (Payout & Reinvestment) & Direct Plan-Quarterly Dividend option (Payout & Reinvestment):
Individuals & HUF: 0.1500 each.
Others: 0.1390 each. 

HDFC High Interest Fund – Dynamic Plan – Quarterly Dividend Option (Payout & Reinvestment) & Dynamic Plan - Direct Plan-Quarterly Dividend option (Payout & Reinvestment):
Individuals & HUF: 0.1500 each.
Others: 0.1390 each. 

HDFC High Interest Fund – Dynamic Plan – Half Yearly Dividend Option (Payout & Reinvestment) & Dynamic Plan - Direct Plan-Half Yearly Dividend option (Payout & Reinvestment):
Individuals & HUF: 0.2500 each.
Others: 0.2316 each. 

HDFC Gilt Fund – Short Term Plan – Dividend Option (Payout & Reinvestment) & Direct Plan-Dividend Option (Payout & Reinvestment):
Individuals & HUF: 0.1500 each.
Others: 0.1390 each. 

HDFC Gilt Fund – Long Term Plan – Dividend Option (Payout & Reinvestment):
Individuals & HUF: 0.2000
Others: 0.1853 

HDFC Gilt Fund – Long Term Plan – Direct Plan-Dividend Option (Payout & Reinvestment):
Individuals & HUF: 0.1500
Others: 0.1390 

HDFC MF Monthly Income Plan-Short Term Plan-Quarterly Dividend Option (Payout & Reinvestment)& Direct Plan-Quarterly Dividend Option (Payout & Reinvestment):
Individuals & HUF: 0.2100 each.
Others: 0.1946 each. 

HDFC MF Monthly Income Plan-Long Term Plan-Quarterly Dividend Option (Payout & Reinvestment) & Direct Plan-Quarterly Dividend Option (Payout & Reinvestment):
Individuals & HUF: 0.2400 each.
Others: 0.2224 each. 

HDFC Debt Fund for Cancer Cure 2014 – Regular Plan & Direct Plan – Dividend Option – 50% Dividend Donation @ Option and 100% Dividend Donation @ Option: Distributable surplus as reduced by applicable statutory levy. 

HDFC Medium Term Opportunities Fund – Quarterly Dividend Option (Payout & Reinvestment) & Direct Plan-Quarterly Dividend Option (Payout & Reinvestment): Distributable surplus, as reduced by applicable statutory levy. 

HDFC Corporate Debt Opportunities Fund – Regular Plan – Half Yearly Dividend (Payout & Reinvestment) & Direct Plan - Half Yearly Dividend (Payout & Reinvestment): Distributable surplus, as reduced by applicable statutory levy. 

HDFC Inflation Indexed Bond Fund – Regular Plan – Quarterly Dividend Option (Payout & Reinvestment): Distributable surplus, as reduced by applicable statutory levy. 

HDFC Annual Interval Fund – Series I – Plan B – Direct Option – Quarterly Dividend Option: Distributable surplus, as reduced by applicable statutory levy. 

DSP BlackRock MF Announces Dividend under its schemes

Record date for dividend is 28 September 2015 

DSP BlackRock Mutual Fund has announced 28 September 2015 as the record date for declaration of dividend under the following schemes. 

The amount of dividend (Rs per unit) on the face value of Rs 10 per unit (except for DSP BlackRock Strategic Bond Fund, which has a face value of Rs 1000 per unit) will be: 

DSP BlackRock Governemnt Securities Fund (DSPBRGSF) – Regular Plan – Dividend:
Individuals: 0.185694
Others: 0.172042 

DSPBRGSF – Direct Plan – Dividend:
Individuals: 0.197251
Others: 0.182749 

DSP BlackRock Treasury Bill Fund (DSPBRTBF) – Regular Plan – Dividend:
Individuals: 0.296634
Others: 0.274826 

DSPBRTBF - Direct Plan – Dividend:
Individuals: 0.307468
Others: 0.284863 

DSP BlackRock MIP Fund (DSPBRMIPF) - Regular Plan - Quarterly Dividend & Direct Plan- Quarterly Dividend (each):
Individuals: 0.180000
Others: 0.166766 

DSP BlackRock Income Opportunities Fund (DSPBRIOF) – Regular Plan –Dividend:
Individuals: 0.171755
Others: 0.159127 

DSPBRIOF – Direct Plan – Quarterly Dividend:
Individuals: 0.181072
Others: 0.167759 

DSP BlackRock Banking & PSU Debt Fund (DSPBRBPDF) -Regular Plan – Dividend:
Individuals: 0.165326
Others: 0.153172 

DSPBRBPDF – Direct Plan - Quarterly Dividend:
Individuals: 0.172188
Others: 0.159529 

DSP BlackRock Constant Maturity 10Y G-Sec Fund (DSPBR10YGSF) – Regular Plan – Dividend:
Individuals: 0.167999
Others: 0.155648 

DSPBR10YGSF – Direct Plan – Quarterly Dividend:
Individuals: 0.174933
Others: 0.162072 

DSP BlackRock Ultra Short Term Fund (DSPBRUSTF) – Regular Plan – Quarterly Dividend:
Individuals: 0.349432
Others: 0.323742 

DSPBRUSTF – Direct Plan – Quarterly Dividend:
Individuals: 0.363660
Others: 0.336924 

DSP BlackRock Strategic Bond Fund – Institutional Plan – Dividend:
Individuals: 3.611325
Others: 3.345820

L&T MF Announces Dividend under its schemes

Record date for dividend is 29 September 2015 

L&T Mutual Fund has announced 29 September 2015 as the record date for declaration of dividend under the following schemes. The quantum of dividend (Rs per unit) on the face value of Rs 10 per unit will be: 

L&T Arbitrage Opportunities Fund – Quarterly Dividend & Direct Plan-Quarterly Dividend: 0.18 each. 

L&T Equity Savings Fund – Quarterly Dividend & Direct Plan-Quarterly Dividend: 0.15 each. 

L&T Gilt Fund-Quarterly Dividend option & Direct Plan-Quarterly Dividend option: 0.35 each. 

L&T Income Opportunities Fund- Retail Option-Quarterly Dividend option: 0.22 

L&T Monthly Income Plan- Quarterly Dividend option: 0.24 

L&T Monthly Income Plan- Direct Plan-Quarterly Dividend option: 0.27 

L&T Short Term Opportunities Fund- Quarterly Dividend option & Direct Plan-Quarterly Dividend option: 0.20 each. 

L&T Triple Ace Bond Fund- Quarterly Dividend option: 0.33 

L&T Triple Ace Bond Fund- Direct Plan - Quarterly Dividend option: 0.38 

L&T Triple Ace Bond Fund- Semi Annual Dividend: 0.40 

L&T Triple Ace Bond Fund- Direct Plan – Semi Annual Dividend: 0.40 

L&T Ultra Short Term Fund – Direct Plan – Semi Annual Dividend: 0.18 

L&T India Prudence Fund: 0.11 

L&T India Prudence Fund-Direct Plan: 0.11 

Mutual funds step up buying

Net inflow of Rs 792.50 crore on 23 September 2015

Mutual funds bought shares worth a net Rs 792.50 crore yesterday, 23 September 2015, higher than net inflow of Rs 36 crore on Tuesday, 22 September 2015. 

The net inflow of Rs 792.50 crore on 23 September 2015 was a result of gross purchases of Rs 1362.40 crore and gross sales of Rs 569.90 crore. The Sensex had risen 171.15 points or 0.67% to settle at 25,822.99 on that day, its highest closing level since 21 September 2015. 

Mutual funds have purchased shares worth a net Rs 6901.60 crore in this month so far (till 23 September 2015). They have bought shares worth a net Rs 10533 crore last month. 

ICICI Prudential Fixed Maturity Plan – Series 77 – 1123 Days Plan V Floats On

NFO period is from 18 September to 28 September 2015 

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Fixed Maturity Plan – Series 77 – 1123 Days Plan V, a close ended debt scheme. The tenure of the scheme is 1123 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue opens for subscription from 18 September to 28 September 2015. 

The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the scheme. 

Presently, two options are available under the scheme viz. cumulative and dividend with only dividend payout option. 

The scheme will invest 80%-100% of its assets in debt instruments including government securities and invest upto 20% of assets in money market instruments with low to medium risk profile. The scheme will not have any exposure to derivatives and if a scheme decides to invest in securitized debt (Single loan and / or Pool loan Securitized debt), it could be upto 25% of the corpus of the Plan. 

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter. 

The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period. 

The scheme is proposed to be listed on NSE. 

Entry load and exit load charge are not applicable for the scheme. 

Benchmark Index for the scheme is CRISIL Composite Bond Fund Index. 

The fund managers of the scheme are Rahul Goswami and Rohan Maru. 

ICICI Prudential Business Cycle Fund – Series 1 Floats On

NFO period is from 18 September to 30 September 2015 

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Business Cycle Fund – Series 1, a close ended equity scheme. The tenure of the scheme is 1281 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue opens for subscription from 18 September to 30 September 2015. 

The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the scheme. 

Presently, two options are available under the scheme viz. cumulative and dividend option with only dividend payout sub-option. 

The scheme will invest 80%-100% of its assets in equity & equity related instruments with medium to high risk profile and invest upto 20% of assets in debt, money market instruments and cash with low to medium risk profile. The investment in derivatives can be upto 50% of the Net Asset of the scheme. 

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter. 

The fund seeks to collect a minimum subscription amount of Rs 10 crore under the scheme during the NFO period. 

Entry load and exit load charge are not applicable for the scheme. 

Benchmark Index for the scheme is S&P BSE 500 Index. 

The scheme will be jointly managed by Mrinal Singh and Pushipinder Singh. The investments under ADRs/GDRs and other foreign securities will be managed by Shalya Shah. 

Reliance Fixed Horizon Fund – XXIX – Series 7 Floats On

NFO period is from 18 September to 29 September 2015

Reliance Mutual Fund has launched a new fund named as Reliance Fixed Horizon Fund – XXIX – Series 7, a close ended income scheme with the duration of 1117 days from the date of allotment. During the New Fund Offer (NFO), the scheme will offer units at Rs 10 per unit. 
The new issue will be open for subscription from 18 September to 29 September 2015. 

This product is suitable for investors seeking returns and growth over the term of the fund limiting interest rate volatality by investment in debt, money market and G-sec instruments maturing on or before the date of maturity of the scheme with low risk - Blue. 

The primary investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of Central, State Government securities and other fixed income/ debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility. 

The scheme offers growth and dividend pay out option under both regular plan and direct plan. 

The scheme will allocate upto 20% of its assets in money market instruments with low risk profile and invest 80%-100% of its assets in government securities & debt instruments with low to medium risk profile. 

The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry and exit load charge will be nil for the scheme. 

Benchmark Index for the scheme is CRISIL Composite Bond Fund Index. 

The fund manager of the scheme will be Amit Tripathi. 

UTI MF Announces Resignation of Director

With effect from 16 September 2015 

UTI Mutual Fund has announced that Pradeep Gupta has resigned from the position of Director of UTI Asset Management Company, with effect from 16 September 2015. 

HDFC Fixed Maturity Plan 1114D September 2015 (1) Floats On

NFO period is from 24 September to 05 October 2015

HDFC Mutual Fund has launched a new plan named as HDFC Fixed Maturity Plan 1114D September 2015 (1), a plan under HDFC Fixed Maturity Plans – Series 34 (a close-ended income scheme). The tenure of the scheme is 1114 days from the date of allotment of units. 

The face value of the new issue will be Rs 10 per unit. The new issue will be open for subscription from 24 September to 05 October 2015. 

The investment objective of the plan is to generate regular income through investments in debt / money market instruments and government securities maturing on or before the maturity date of the plan. 

The plan shall offer three options – growth, dividend and flexi option. The plan would invest 80%-100% of assets in debt instruments & government securities with medium risk profile and invest upto 20% of assets in money market instruments with low risk profile. 

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry and exit load charge will be not applicable for the plan. 

Benchmark Index for the plan is CRISIL Composite Bond Fund Index. 

The fund managers of the scheme are Anil Bamboli & Rakesh Vyas (Dedicated fund manager for overseas investments). 

Kotak India Growth Fund Series – II Floats On

NFO period is from 22 September to 06 October 2015 

Kotak Mutual Fund has launched a new fund named Kotak India Growth Fund Series – II, a 3 years close ended equity schemes. The tenure of the scheme is 3 years after the date of allotment. The new fund offer price for the scheme is Rs 10 per unit. The new issue will open for subscription from 22 September to 06 October 2015. 

The investment objective of the scheme is to generate capital appreciation from a diversified portfolio of equity & equity related instruments across market capitalization and sectors. 

The scheme offers two options viz. growth and dividend payout option under both regular 
and direct plan. 

The scheme would invest 80%-100% in equity & equity related securities with medium to high risk profile and invest upto 20% of assets in debt & money market securities with low risk profile. 

Minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period. 

Entry & exit load charge will be Nil. 

The fund is benchmarked against CNX 200. 

Harish Krishnan will be the fund manager of the scheme. 

Kotak Mahindra Balance Unit Scheme 99 Announces Dividend

Record date for dividend is 28 September 2015 

Kotak Mutual Fund has announced 28 September 2015 as the record date for declaration of dividend under dividend option in regular plan and direct plan of Kotak Mahindra Balance Unit Scheme 99, an open ended balanced scheme. 

The quantum of dividend on the face value of Rs 10 per unit will be Re 0.50 per unit under each plan.

ICICI Prudential MF Announces dividend under its schemes

Record date for dividend is 28 September 2015 

ICICI Prudential Mutual Fund has announced 28 September 2015 as the record date for declaration of dividend under the dividend option of following schemes. 

The amount of dividend (Rs per unit) on the face value of Rs 10 per unit (except for ICICI Prudential Liquid Plan, ICICI Prudential Flexible Income Plan & ICICI Prudential Savings Fund, which has a face value of Rs 100 per unit) will be: 

ICICI Prudential Ultra Short Term Plan:
Retail – Quarterly Dividend: 0.2061
Regular Plan – Quarterly Dividend: 0.2058 

ICICI Prudential Dynamic Bond Fund:
Regular Plan – Quarterly Dividend: 0.3303
Direct Plan – Quarterly Dividend: 0.3459 

ICICI Prudential Income Plan: 
Institutional Quarterly - Dividend: 0.3887
Regular Plan – Quarterly Dividend: 0.3990
Direct Plan – Quarterly Dividend: 0.4296
Regular Plan – Half Yearly Dividend: 0.2681
Institutional Dividend – Half Yearly: 0.2814
Direct Plan – Half Yearly Dividend: 0.3376 

ICICI Prudential MIP 25:
Regular Plan – Quarterly Dividend: 0.2601
Direct Plan – Quarterly Dividend: 0.2596
Regular Plan – Half Yearly Dividend: 0.2035 

ICICI Prudential Regular Income Fund:
Regular Plan – Quarterly Dividend: 0.2263
Direct Plan – Quarterly Dividend: 0.2636 

ICICI Prudential Blended Plan – Plan B:
Direct Plan – Quarterly Dividend Option – I: 0.45 

ICICI Prudential Banking & PSU Debt Funds:
Regular Plan - Quarterly Dividend: 0.2443
Direct Plan – Quarterly Dividend: 0.6500 

ICICI Prudential Long Term Plan:
Regular Plan – Annual Dividend: 1.3649
Direct Plan – Annual Dividend: 1.4341 

ICICI Prudential Regular Savings Fund:
Regular Plan – Quarterly Dividend: 0.2208
Direct Plan – Quarterly Dividend: 0.2536
Regular Plan – Half Yearly Dividend: 0.4144
Direct Plan – Half Yearly Dividend: 0.4651 

ICICI Prudential Multiple Yield Fund Series 5 – 1100 Days Plan A:
Regular Plan – Dividend: 0.05
Direct Plan – Dividend: 0.05 

ICICI Prudential Liquid Plan:
Regular Plan – Quarterly Dividend: 1.8885
Direct Plan – Quarterly Dividend: 1.9250
Regular Plan – Half Yearly Dividend: 4.1981
Direct Plan – Half Yearly Dividend: 4.2888 

ICICI Prudential Flexible Income Plan:
Regular Plan – Quarterly Dividend: 1.9829
Direct Plan – Quarterly Dividend: 2.0095 

ICICI Prudential Savings Fund:
Regular Plan – Quarterly Dividend: 1.8110
Direct Plan – Quarterly Dividend: 2.0627

Bond yield dips

10-year G-sec Paper yield closes at 7.70% 

The yield on 10-year benchmark federal paper, 7.72% GS 2025, eased by 05 basis points (bps) to 7.70% compared with 7.75% at close in the previous trading session. The total trading volume on central bank's gilts trading platform stood at Rs 58,805 crore. 

The bond yield eased and bonds completed their biggest advance since 25 August on increased rate cut expectations after the Federal Reserve refrained from raising interest rates. Also, two main inflation gauges-CPI and WPI showed continued easing, paving way for rate cut. The appreciation in Rupee also pushed the yield down. 

The weighted average rate in the overnight call money increased to 7.38% compared with 7.27% in previous session. The call money rate hovered in the range of 5.80% to 8.20% with the volume of Rs 21,385.73 crore. 

Asia Pacific Market: Stocks rise after Fed stands pat

Asia Pacific share market advanced on Friday, 18 September 2015, as appetite for risk assets bolstered after the U.S. Federal Reserve left rates unchanged, calming the risk of capital outflows from developing nations. The MSCI Asia Pacific Ex-Japan Index advanced 1.1% to 412.93. 

In a speech following the two-day meeting on Thursday, Federal Reserve chair Janet Yellen decided against raising interest rates and left its interest rate target unchanged at zero to 0.25% amid concerns over global economic headwinds, volatility in stock markets and anaemic inflation. The Fed's decision raised the possibility that countries with an easing-bias could consider further cuts. 

Referring to the global outlook, Yellen explicitly said the central bank was focusing on the slowdown in China and emerging markets, saying one key issue is whether there might be a risk of a more abrupt slowdown in China. 

Meanwhile, in the updated projection, Fed is forecasting federal funds rate to be at 0.4% by the end of 2015. That is, there would still be one rate hike between October and December. Fed funds rate is projected to be at 1.4% in 2016, 2.6% in 2017 and 3.4% in 2018. That was downward revision from June's projection of 0.6% in 2015, 1.6% in 2016 and 2.9% in 2017 respectively. 

Unemployment rate projections were generally revised lower, showing Fed's confidence in improvements in the labor markets. Unemployment rate is forecast to be 5.0% in 2015, 4.8% in 2016, 2017 and 2018. That's lower then June's forecast of 5.3% in 2015, 5.1% in 2016 and 5.0% in 2017 respectively. GDP projections were mixed. GDP was projected to grow 2.1% in 2015, 2.3% in 2016, 2.2% in 2017 and 2.0% in 2018, comparing to June's projection of 1.9% in 2015, 2.5% in 2016 and 2.3% in 2017. 

Among Asian bourses
 
Australian market extends gain
 
The Australian share market advanced for third consecutive session, as risk sentiments improved after the US Fed kept the interest rates on hold at its latest policy meeting. The gain was also bolstered after the governor of the Reserve Bank presented an optimistic view about the Australian economy. The decision boosted the demand for major bullion, big banks, property trusts, and industrial stocks. The benchmark S&P/ASX 200 index advanced 23.70 points, or 0.46%, to 5170.50 points. The broader All Ordinaries index ended up 23.10 points, or 0.45%, at 5194.30.

Nikkei tumbles on stronger yen
 
The Japanese share market finished the session deeply in sea of red, as risk aversion selloff triggered on stronger yen, disappointing trade data and Standard & Poor's Japan's long-term credit rating cut. All but one of the 33 Topix's industry groups ended down, with Insurance, Iron & Steel, Glass & Ceramics Products, Land Transportation, Banks, Warehousing & Harbor Transportation Services, and Chemicals issues being major decliners. The Nikkei Stock Average dropped 362.06 points, or 1.96%, to end at 18070.21 points. The broader Topix index dropped 2%, or 29.53 points, to 1462.38 at the close in Tokyo. The Japan market lost 1.2% this week. The Japanese share market will shut from Monday through Wednesday for holidays. 

China market ends modestly up
 
The Mainland China's stock market ended modest higher, joining regional rally, after the Federal Reserve decided to hold off on its first rate hike in nearly a decade. However, market gains were limited amid concern government intervention will fail to shore up the world's second-largest stock market as signs grow the economic slowdown is deepening. The Shanghai Composite Index rose 0.38%, or 11.86 points, to 3097.92 points. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 1.25%, or 20.68 points, to 1679.09. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, was up 2.59%, or 50 points, to close at 1983.30. The Shanghai Composite Index dropped 3.2% this week.

Hong Kong market ends higher
 
Hong Kong stock market ended firmer on relief after the Fed decided to keep interest rate steady. But gains were capped by renewed concerns about the health of the global economy, in particular China. The benchmark Hang Seng Index (HSI) opened down 47 points and quickly reversed its downtrend. The Hang Seng Index added 66.20 points, or 0.3%, at 21920.83 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 64.21 points, or 0.64%, to 10028.38 points. Turnover increased to HK$95.53 billion from HK$89.9 billion on Thursday. 

Sensex trims gains late afternoon
 
Key benchmark indices trimmed intraday gains in afternoon trade after European stocks edged lower in early trade there. At 13:17 IST, the barometer index, the S&P BSE Sensex, was up 437.05 points or 1.68% at 26,401.02. The 50-unit CNX Nifty was up 131.95 points or 1.67% at 8,031.10. 

The Reserve Bank of India (RBI) has granted in-principle approval to 10 applicants to set up small finance banks under the "Guidelines for Licensing of Small Finance Banks in the private sector" (Guidelines) issued on 27 November 2014. The in-principle approval granted will be valid for 18 months to enable the applicants to comply with the requirements under the Guidelines and fulfil other conditions as may be stipulated by the RBI.

Elsewhere in the Asia Pacific region: Taiwan's Taiex index rose 0.2% to 8462.14. South Korea's KOPSI jumped 1% to 1995.95. New Zealand's NZX50 gained 0.3% to 5712.05. Singapore's Straits Times index added 0.2% at 2901.54. Indonesia's Jakarta Composite index climbed up 0.5% to 4401.06. Malaysia's KLCI declined 0.3% to 1676.44.